It's too early to say whether the action will complicate any borrowing and it could even be helpful, said Brian Battle, director of trading at Chicago-based Performance Trust Capital Partners.
"This might be the SEC firing a shot across the bow to say to the city that as it's getting reorganized and restructured 'we are watching,'" he said. "They are going on the record saying that they are still watching the city and won't accept any shortcuts."
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